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DEC 08 '92 02 :41PM EHLERS ASSOCIATES Attach. A P.2 /4 <br /> MEMORANDUM <br /> TO: Susan Hoyt, City Administrator <br /> FROM: Steve Apfelbacher <br /> Dave Maroney <br /> DATE: December 8, 1992 <br /> RE: CITY OF FALCON HEIGHTS, MN; TIF DISTRICT PLANNING ISSUES <br /> To facilitate the possible refunding of the 1984 and 1985 TIF Bonds and management of the <br /> TIF Districts, the following course of action is proposed: <br /> 1. City Council Meeting of 12/9/92 <br /> a. Authorize the transfer of fund balances for District 1 -2 and District 2 -1 less debt <br /> service payments due 3/1/93 and 2/1/93 respectively to the TIF District No. 1 <br /> Construction Fund (formerly TIF District No. 1 Pool) and TIF District No. 2 <br /> Construction Fund. This action Is proposed for accounting purposes and will allow <br /> consideration of the refunding issue to maximize savings possibilities and future <br /> planning of expenditures within the Development District. <br /> b. Call for the scheduling of the public hearing that is required if the 1984 and 1985 <br /> TIF Bonds are to be refunded. A sample resolution Is enclosed. The public <br /> hearing could be scheduled for January 13, 1993. <br /> 2 City Council Meeting 1/6/93 <br /> Jbvi- a. A workshop would be held with the City Council for purposes of reviewing the <br /> refunding, the current status of the TIF districts' budgets, possible modifications, <br /> and long -range capital planning considerations. <br /> 3. City Council Meeting of 1/13/93 <br /> a. Conduct the public hearing relating to the refunding of the 1984 and 1985 TIF <br /> Bonds. <br /> b. Call for the sale of bonds to refund the 1984 and 1985 TIF Bonds. Schedule a sale <br /> date for 1/27/93. <br /> all Ehlers and Associates, Inc. 2950 Norwest Center <br /> 90 South Seventh Street <br /> Minneapolis. MN 55402.4100 <br />